A method of manufacturing a carrying substrate is provided. At least one circuit component is disposed on a first circuit structure. An encapsulation layer is formed on the first circuit structure and encapsulates the circuit component. A second circuit structure is formed on the encapsulation layer and electrically connected to the circuit component. The circuit component is embedded in the encapsulation layer via an existing packaging process. Therefore, the routing area is increased, and a package substrate requiring a large size has a high yield and low manufacturing cost.